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27 September 2018

Redmayne Bentley’s Top Trades

Below we take a look at the most frequently traded shares through Redmayne Bentley over the last couple of weeks and consider why they have been so popular.
 
DIAGEO (DGE)
Index: FTSE 100
Sector: Beverages
Market Capitalisation: £66,111.55m
 
Last week, beverages company Diageo published a trading update in which it said that it had started the year well and was performing in line with expectations. Despite “increased volatility in some markets” the group said it expects organic net sales growth to be broadly in line with the last fiscal year. Chief Executive Ivan Menezes commented: “We are focused on delivering both growth and efficiency, allowing us to continue to reinvest in the business to support the long-term growth of our brands.” Investors reacted well to the announcement as shares climbed to 2700p.
 
HIKMA PHARMACEUTICALS
(HIK)
Index: FTSE 250
Sector: Pharmaceuticals & Biotechnology
Market Capitalisation: £4,521.86m
 
Hikma Pharmaceuticals rose to an annual high of 2016p earlier this month and there were signs of investors taking profits last week. Last month, the group reported that all three business segments had achieved revenue and profit growth in the six months to the end of June, leading to an operating profit of US$174m, up 54%. Chief Executive Officer Siggi Olafsson commented: “Our performance in the first half exceeded our expectations and we are pleased to be able to raise our guidance for both our Injectables and Generics businesses for the full year.”
 
HURRICANE ENERGY (HUR)
Index: FTSE AIM 100
Sector: Oil & Gas Producers
Market Capitalisation: £1,136.54m
 
Hurricane Energy was in favour with investors last week after the oil and gas company reported that its Lancaster Early Production System development had progressed to plan and within budget, allowing it to maintain its first oil guidance at the first half of 2019. The group also reported that cash, cash equivalents and liquid investments were US$210.1m as at the end of June. Chief Executive Dr Robert Trice said he believes the company and its shareholders “are entering a very exciting time”. Shares have climbed to their highest level since the middle of 2017, just shy of 60p.
 
Top Trades is published every fortnight in Equity Insight, a newsletter written by our stockbrokers and investment managers. It provides market commentary, a focus on individual sectors, technical analysis, potential trading opportunities and share reviews.
 
Please note that investments and income arising from them can fall as well as rise in value and you may lose some or all of the amount you have invested. Past performance and forecasts are not a reliable indicator of future results or performance. Please note that this communication is for information only and does not constitute a recommendation to buy or sell the shares of the companies mentioned.
Redmayne Bentley’s Top Trades
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